Definition of "Worldwide coverage"

Endorsement to the commercial general liability insurance (CGL) policy that provides liability coverage to an insured business for damages anywhere in the world. Policies typically have territorial limits for liability coverage, but this endorsement extends coverage worldwide, so long as a damage suit is brought in the U.S. or Canada.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Same as term Export-Import Bank: partnership between an agency of the U.S. government and the Foreign Credit Insurance Association (50 commercial insurance companies, both stock and ...

Coverage for direct or indirect property loss that can be analyzed under the following headings: Peril a particular peril may be included or excluded. For example, the Standard Fire Policy ...

Membership organization representing professional actuaries in all insurance fields in Canada including life and health, casualty, consulting and fraternal actuaries. A member must reside ...

Feature of property and casualty policy providing coverage without a reduction in the policy's limits after a loss is paid. For example, if the limit of coverage under a property policy is ...

Payment due on the renewal of an insurance policy. The premium may be adjusted up or down to reflect the loss experience of the underwriting classification to which the insured belongs. ...

Coverage on an all risks basis for the insured's own property as well as property of others under the insured firm's care, custody, and control. Exclusions are wear and tear, mysterious ...

Transaction in which the property owner (for example, a pension fund) agrees to pay the insurance company a rate of return tied to the fluctuations in real estate prices. In return, the ...

Amount charged to an insured that reflects expectation of loss for a covered risk; and insurance company expenses and profit. ...

Bonds that are less than investment grade plus the bonds that are in or approaching default, which comprise part of the insurance company's investment bond portfolio. ...

Popular Insurance Questions